InsiderClue
Stocks · Real estate · Real Estate Investment Trusts

AVALONBAY COMMUNITIES INC

AVB Clue Score50
United States Fiscal year ends December CIK 0000915912
$184.06 +0.00% Close, 17 Aug 2026
Alert on the numbers Alert on insider trades
Price $184.06 −18.05% Close, 17 Aug 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue0.01Operating income1.31Net income1.03EPS, diluted7.52Fiscal year 2017Revenue0.00 −25.9%Operating income1.40Net income0.88 −15.2%EPS, diluted6.35 −15.6%Fiscal year 2018Revenue0.00 −13.9%Operating income1.49Net income0.97 +11.1%EPS, diluted7.05 +11.0%Fiscal year 2019Revenue0.00 +38.9%Operating income1.55Net income0.79 −19.3%EPS, diluted5.63 −20.1%Fiscal year 2020Revenue0.00 −23.0%Operating income1.47Net income0.83 +5.3%EPS, diluted5.89 +4.6%Fiscal year 2021Revenue0.00 −19.2%Operating income1.46Net income1.00 +21.3%EPS, diluted7.19 +22.1%Fiscal year 2022Revenue0.01 +105.4%Operating income1.70Net income1.14 +13.2%EPS, diluted8.12 +12.9%Fiscal year 2023Revenue0.01 +21.9%Operating income1.79Net income0.93 −18.3%EPS, diluted6.56 −19.2%Fiscal year 2024Revenue0.01 −8.3%Operating income1.91Net income1.08 +16.5%EPS, diluted7.60 +15.9%Fiscal year 2025Revenue0.01 −0.6%Operating income2.02Net income1.06 −2.3%EPS, diluted7.40 −2.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01
Growth −25.9% −13.9% +38.9% −23.0% −19.2% +105.4% +21.9% −8.3% −0.6%
Operating income 1.31 1.40 1.49 1.55 1.47 1.46 1.70 1.79 1.91 2.02
Net income 1.03 0.88 0.97 0.79 0.83 1.00 1.14 0.93 1.08 1.06
Growth −15.2% +11.1% −19.3% +5.3% +21.3% +13.2% −18.3% +16.5% −2.3%
EPS, diluted 7.52 6.35 7.05 5.63 5.89 7.19 8.12 6.56 7.60 7.40
Growth −15.6% +11.0% −20.1% +4.6% +22.1% +12.9% −19.2% +15.9% −2.6%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin23,468.2%Net margin18,467.6%Free cash flow margin20,617.8%Fiscal year 2017Operating margin33,734.7%Net margin21,145.9%Free cash flow margin30,080.7%Fiscal year 2018Operating margin41,577.0%Net margin27,282.3%Free cash flow margin36,332.2%Fiscal year 2019Operating margin31,288.1%Net margin15,848.9%Free cash flow margin26,543.1%Fiscal year 2020Operating margin38,555.1%Net margin21,673.4%Fiscal year 2021Operating margin47,239.8%Net margin32,566.7%Fiscal year 2022Operating margin26,865.9%Net margin17,944.7%Fiscal year 2023Operating margin23,190.7%Net margin12,028.3%Fiscal year 2024Operating margin26,974.7%Net margin15,280.2%Fiscal year 2025Operating margin28,698.5%Net margin15,004.2%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 23,468.2% 33,734.7% 41,577.0% 31,288.1% 38,555.1% 47,239.8% 26,865.9% 23,190.7% 26,974.7% 28,698.5%
Net margin 18,467.6% 21,145.9% 27,282.3% 15,848.9% 21,673.4% 32,566.7% 17,944.7% 12,028.3% 15,280.2% 15,004.2%
Free cash flow margin 20,617.8% 30,080.7% 36,332.2% 26,543.1% n/a n/a n/a n/a n/a n/a

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow1.16Capital expenditure−0.01Free cash flow1.15Dividends paid−0.73Fiscal year 2017Operating cash flow1.26Capital expenditure−0.01Free cash flow1.25 +8.1%Dividends paid−0.77Fiscal year 2018Operating cash flow1.30Capital expenditure−0.00Free cash flow1.30 +4.0%Dividends paid−0.81Fiscal year 2019Operating cash flow1.32Capital expenditure−0.01Free cash flow1.32 +1.4%Buybacks0.00Dividends paid−0.84Fiscal year 2020Operating cash flow1.22Buybacks−0.18Fiscal year 2021Operating cash flow1.20Buybacks0.00Fiscal year 2022Operating cash flow1.42Buybacks0.00Fiscal year 2023Operating cash flow1.56Buybacks−0.00Fiscal year 2024Operating cash flow1.61Buybacks0.00Fiscal year 2025Operating cash flow1.67Buybacks−0.49
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 1.16 1.26 1.30 1.32 1.22 1.20 1.42 1.56 1.61 1.67
Capital expenditure −0.01 −0.01 −0.00 −0.01 n/a n/a n/a n/a n/a n/a
Free cash flow 1.15 1.25 1.30 1.32 n/a n/a n/a n/a n/a n/a
Growth +8.1% +4.0% +1.4%
Buybacks n/a n/a n/a 0.00 −0.18 0.00 0.00 −0.00 0.00 −0.49
Dividends paid −0.73 −0.77 −0.81 −0.84 n/a n/a n/a n/a n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash0.21Total debt7.08Net cash (debt)−6.86Shareholders’ equity10.17Debt to equity0.70Fiscal year 2017Cash0.07Total debt7.40Net cash (debt)−7.34Shareholders’ equity10.39Debt to equity0.71Fiscal year 2018Cash0.09Total debt7.10Net cash (debt)−7.01Shareholders’ equity10.63Debt to equity0.67Fiscal year 2019Cash0.04Total debt7.36Net cash (debt)−7.32Shareholders’ equity10.99Debt to equity0.67Fiscal year 2020Cash0.22Total debt7.63Net cash (debt)−7.41Shareholders’ equity10.75Debt to equity0.71Fiscal year 2021Cash0.42Total debt8.10Net cash (debt)−7.68Shareholders’ equity10.93Debt to equity0.74Fiscal year 2022Cash0.61Total debt8.32Net cash (debt)−7.70Shareholders’ equity11.25Debt to equity0.74Fiscal year 2023Cash0.40Total debt7.98Net cash (debt)−7.58Shareholders’ equity11.78Debt to equity0.68Fiscal year 2024Cash0.11Total debt8.08Net cash (debt)−7.97Shareholders’ equity11.94Debt to equity0.68Fiscal year 2025Cash0.19Total debt9.33Net cash (debt)−9.14Shareholders’ equity11.61Debt to equity0.80
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 0.21 0.07 0.09 0.04 0.22 0.42 0.61 0.40 0.11 0.19
Total debt 7.08 7.40 7.10 7.36 7.63 8.10 8.32 7.98 8.08 9.33
Net cash (debt) −6.86 −7.34 −7.01 −7.32 −7.41 −7.68 −7.70 −7.58 −7.97 −9.14
Shareholders’ equity 10.17 10.39 10.63 10.99 10.75 10.93 11.25 11.78 11.94 11.61
Debt to equity 0.70 0.71 0.67 0.67 0.71 0.74 0.74 0.68 0.68 0.80

In billions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In billions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01
Growth −25.9% −13.9% +38.9% −23.0% −19.2% +105.4% +21.9% −8.3% −0.6%
0.05 0.05 0.06 0.06 0.06 0.07 0.07 0.08 0.08 0.09
1.31 1.40 1.49 1.55 1.47 1.46 1.70 1.79 1.91 2.02
Growth +6.5% +6.2% +4.5% −5.1% −1.1% +16.8% +5.3% +6.7% +5.8%
1.03 0.88 0.97 0.80 0.82 1.01 1.15 0.94 1.08 1.06
0.00 0.00 −0.00 0.01 −0.00 0.01 0.01 0.01 0.00 −0.00
1.03 0.88 0.97 0.79 0.83 1.00 1.14 0.93 1.08 1.06
Growth −15.2% +11.1% −19.3% +5.3% +21.3% +13.2% −18.3% +16.5% −2.3%
Per share
7.53 6.36 7.05 5.64 5.89 7.19 8.13 6.56 7.61 7.40
7.52 6.35 7.05 5.63 5.89 7.19 8.12 6.56 7.60 7.40
Growth −15.6% +11.0% −20.1% +4.6% +22.1% +12.9% −19.2% +15.9% −2.6%
136.9 137.5 137.8 139.1 140.1 139.4 139.6 141.3 142.0 141.7
137.5 138.1 138.3 139.6 140.4 139.7 140.0 141.6 142.5 142.8
Growth +0.4% +0.2% +0.9% +0.6% −0.5% +0.2% +1.2% +0.6% +0.3%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue grew 13.0% a year over five years, and earnings per share grew 4.7% a year.
  • The diluted share count rose 1.7% in five years, which is dilution.
  • Operating margin is down 9,856.6 points on five years ago, at 28,698.5%.
  • Profitable in every one of the 10 years on file.